VeChain price prediction 2021 & 2025

The whole world is moving and developing so fast these days that everything is changing in just a few months. Whenever something is invented simultaneously the work on its upgradations has also started and within some time a new upgraded version of that thing is also launched. The best example of that is the financial world. Recently the world has realized the demerits of normal currency and started moving towards digital currency and adopting cryptocurrency. And already better versions of cryptocurrency have launched. A few years ago it was impossible to think that we can do transactions through our mobile phones sitting anywhere in the whole world and with just a few clicks. The technological advancements have brought so many changes in blockchain technology and launched a new VeChain trading platform.

This article will focus on this advancement of technology only called VeChain.
Let’s first understand what is a VeChain.

What is a VeChain?

VeChain is a unique blockchain-based company that aims to transform companies’ functions more resourceful and procedures well defined. It was launched in the year 2015 by Sunny Lu, his aim was to make the supply chain and product management lifecycle impeccable. Before this project, he has vast experience in the Louis Vuitton China branch. Initially, VeChain was an exclusive solution to supply chain enhancement requirements. It has bought radical changes in the project management lifecycle through efficient management changes.
VeChain was started on the basis of Ethereum coding but today, its attributes are used in payment networking, voting, smart contracts, and much more. Because of the innovative solutions from VeChain, it can today provide features geared directly to business clients.

The mission behind creating this kind of company is to solve the issues faced by the logistics sector. This sector has huge data traffic on regular basis but the main issue was to make these data communicable and well streamlined. In most cases, the sector has to depend on centralized data sources that are less secured and authentic.

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Advantages of VeChain

I will list all possible advantages of VeChain below.

• The identities made on the VeChain tokens bring more accountability in the whole supply chain process.
• It fulfills its objective of making the supply chain process easy with the use of distributed ledger technology.
• Vechain platform has allowed the use of QR codes in supply management.
• It uses tags and sensors in its functionality that helps the business analysts in flawless and rapid data management based on an authentic verification system.
• It enables the business to track an enormous amount of data.
• VeChain platform provides features like quality, authenticity, storage temperature, and transportation status.
• All these advantages automatically lead to more accountability.

VeChain has two tokens VET and VeChain Thor (VTHO). VET coin is the main currency medium that is used in implementation in the field of payments and voting. While VTHO is a token that is provided to VET coin owners to run smart contracts on the VeChain Thor blockchain.

VeChain Partnerships

It does not just have partnerships with logistics companies. VeChain has many partnerships with different companies. Some are listed below.

• In January 2018, it has a partnership with DNV GL for a digital assurance solution for the food and beverage industry and for audits and data collection.
• From May 2017, VeChain has a partnership with PriceWaterhouseCoopers (PwC) for providing improved verification and traceability to its clients.
• In December 2018, VeChain has tied up with BIOS Middle East, a leading UAE Cloud Service Provider, for encryption.
  Haier is partnered with VeChain since April 2019 for using blockchain and IoT technology.
• PlatformXChain, a Singapore-based company into toy manufacturing setup, has a partnership with VeChain for its listing their collectibles since April 2020.

There are many more partnerships of the company but these were the main among them.

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Future prediction

In the year 2020, VET was performing very well in the market but the investors are not satisfied because the pandemic had created pressure on it and changed the investor’s sentiment towards it. As a result, the price of VET has hit rock bottom. Experts believe that it is in the bearish phase for the short-term on the long-term basis its bull run is intact.
Today VET is trading at $0.060. On Monday, March 8, 2021, it has reached its new all-time high of $0.0643 and it has raised around 75% in the past week.

• Price predictions for the year 2021

This year is proving to be a great one for VET. Now if it breaks the level of $0.061 then it would be raised 125%. By the end of the year, it could reach $0.083.

• Price predictions for the year 2022

The bullish rally of the year 2021 is likely to continue this year as well but it will also see some major corrections. The price will move in a range of $0.054-$0.080.

• Price predictions for the year 2023-2025

After 3-5 years it is expected that the price of VET would see both bulls as well as bears rally. By the end of the year 2025, the price of VET could be $0.1.

Blockchain technology is the future. By saying this, we can surely say that the future of VeChain is also very bright. Already it has so many partnerships and in future as well it will have more. So it is a great investment option.